ADR Report-Foreign shares tumble, weighed by Asian stocks

By Angela Moon

NEW YORK, Oct 12 (BestGrowthStock) – Overseas shares traded in the
United States slipped on Tuesday, weighed by Asian companies
and caution ahead of results from the Federal Reserve’s policy
meeting.

Asian stocks were hurt after China sought to cool down its
economy, sparking concerns it would hamper the global economic
growth.

An official Chinese newspaper reported the government
raised bank reserve requirements by 50 basis points, the fourth
hike this year, due to excessive lending.

The BNY Mellon index of leading American Depositary
Receipts (ADRs) (.BKADR: ) was down 0.8 percent while the U.S.
benchmark S&P 500 index (.SPX: ) fell 0.2 percent.

The BNY Mellon index of leading Asian ADRs (.BKAS: ) fell 1.2
percent. In Asia, stock markets in Japan, South Korea and
Taiwan ended lower after the move by China.

New York-listed shares of Toyota Motor (TM.N: ) fell 1.3
percent to $89.97 and Honda Motor (HMC.N: ) lost 1.8 percent to
$35.83.

Mitsubishi UFJ Financial (MTU.N: ) was down 1 percent at
$4.93 and NTT Docomo Inc (DCM.N: ) fell 1.1 percent to $16.65.

U.S-traded shares of Chinese companies continued to decline
for a second day, with China Mobile (CHL.N: ) falling 1.5 percent
to $52.38.

The BNY Mellon index of leading European ADRs (.BKEUR: ) was
down 0.7 percent. Shares in Europe fell as investors awaited
the Fed minutes, due at 2:00 p.m. EDT, for clues on how the Fed
will provide more support for the economy. Commodities stocks
weighed on European markets as crude and metal prices slipped.

BHP Billiton PLC (BBL.N: ) shares fell 2 percent to $67.06
and BP (BP.N: ) lost 0.5 percent to $41.04.

Receipts with the BNY Mellon index of leading Latin
American ADRs (.BKLA: ) fell 0.7 percent.

(Reporting by Angela Moon, Editing by Andrew Hay)

ADR Report-Foreign shares tumble, weighed by Asian stocks